Petrol Prices have been reduced once again after the federal government announced a fresh cut in the rates of petrol and high-speed diesel (HSD), providing relief to consumers.
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The revised prices, approved on the recommendations of the Oil and Gas Regulatory Authority (OGRA), will take effect from August 5.
Petrol Falls by Rs3.39 Per Litre
According to the Ministry of Energy (Petroleum Division), the price of Motor Spirit (MS), commonly known as petrol, has dropped by Rs3.39 per litre.
As a result, the ex-depot price has decreased from Rs331.95 to Rs328.56 per litre.
The reduction is expected to benefit private motorists, commuters and businesses that depend on petrol-powered vehicles.
Diesel Also Becomes Cheaper
The government also reduced the price of high-speed diesel (HSD) by Rs4.07 per litre.
Consequently, the ex-depot price has fallen from Rs389.93 to Rs385.86 per litre.
Diesel powers most commercial transport, agricultural machinery and industrial operations. Therefore, the latest reduction may help lower operating costs for transporters and farmers.
OGRA Recommended the Price Revision
The Ministry of Energy said OGRA calculated the revised fuel prices under the federal government’s petroleum pricing mechanism.
Furthermore, the latest adjustment continues the recent downward trend in domestic fuel prices.
